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v3.25.1

RELATED PARTY TRANSACTIONS | 12 Months Ended
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Mar. 31, 2025
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS
| Year ended March 31, 2025 |  | Year ended March 31, 2024
| Related party balances |  | Total category as per financial statements captions |  | Related party balances |  | Total category as per financial statements captions
ASSETS |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2,233 |  |  | $ | 837,302 |  |  | $ | 203 |  |  | $ | 545,084 |
Companies controlled by management | 2,233 |  |  |  |  | 203 |  |  |
Restricted cash | $ | 30 |  |  | $ | 807,468 |  |  | $ | — |  |  | $ | 462,637 |
Companies controlled by management | 30 |  |  |  |  | — |  |  |
Investment securities | $ | 1,174 |  |  | $ | 2,814,733 |  |  | $ | 1,326 |  |  | $ | 3,905,241 |
Companies controlled by management | 1,174 |  |  |  |  | 1,326 |  |  |
Margin lending, brokerage and other receivables, net | $ | 41,308 |  |  | $ | 3,319,145 |  |  | $ | 22,039 |  |  | $ | 1,660,275 |
Management | 10,080 |  |  |  |  | 8,849 |  |  |
Companies controlled by management | 31,228 |  |  |  |  | 13,190 |  |  |
Loans issued | $ | 188,445 |  |  | $ | 1,595,435 |  |  | $ | 147,440 |  |  | $ | 1,381,715 |
Management | 291 |  |  |  |  | 117 |  |  |
Companies controlled by management | 188,154 |  |  |  |  | 147,323 |  |  |
Other assets, net | $ | 18,080 |  |  | $ | 168,541 |  |  | $ | 5,257 |  |  | $ | 102,414 |
Management | 486 |  |  |  |  | — |  |  |
Companies controlled by management | 17,594 |  |  |  |  | 5,257 |  |  |
LIABILITIES |  |  |  |  |  |  |
Customer liabilities | $ | 48,161 |  |  | $ | 4,304,999 |  |  | $ | 44,127 |  |  | $ | 2,273,830 |
Management | 13,827 |  |  |  |  | 12,604 |  |  |
Companies controlled by management | 32,607 |  |  |  |  | 31,253 |  |  |
Other | 1,727 |  |  |  |  | 270 |  |  |
Margin lending and trade payables | $ | 1,307 |  |  | $ | 1,322,241 |  |  | $ | 507 |  |  | $ | 867,880 |
Management | 201 |  |  |  |  | 226 |  |  |
Companies controlled by management | 1,106 |  |  |  |  | 281 |  |  |
Liabilities from insurance activity | $ | 5,960 |  |  | $ | 481,539 |  |  | $ | 470 |  |  | $ | 297,180 |
Companies controlled by management | 5,960 |  |  |  |  | 470 |  |  |
Other liabilities | $ | 1,407 |  |  | $ | 129,737 |  |  | $ | 9,854 |  |  | $ | 81,560 |
Management | 1,281 |  |  |  |  | 7,947 |  |  |
Companies controlled by management | 125 |  |  |  |  | 1,907 |  |  |
Other | 1 |  |  |  |  | — |  |  |
| Year ended March 31, 2025 |  | Year ended March 31, 2024 |  | Year ended March 31, 2023
| Related party amounts |  | Total category as per financial statements captions |  | Related party amounts |  | Total category as per financial statements captions |  | Related party amounts |  | Total category as per financial statements captions
Revenue: |  |  |  |  |  |  |  |  |  |  |
Fee and commission income | $ | 4,725 |  |  | $ | 505,026 |  |  | $ | 65,972 |  |  | $ | 440,333 |  |  | $ | 199,235 |  |  | $ | 327,215 |
Management | 1,062 |  |  |  |  | 935 |  |  |  |  | 806 |  |  |
Companies controlled by management | 3,655 |  |  |  |  | 65,035 |  |  |  |  | 198,428 |  |  |
Other | 8 |  |  |  |  | 2 |  |  |  |  | 1 |  |  |
Interest income | $ | 1,731 |  |  | $ | 864,453 |  |  | $ | 24,941 |  |  | $ | 828,224 |  |  | $ | 23,191 |  |  | $ | 294,695 |
Management | 924 |  |  |  |  | 665 |  |  |  |  | 18 |  |  |
Companies controlled by management | 807 |  |  |  |  | 24,276 |  |  |  |  | 23,173 |  |  |
Insurance underwriting income | $ | 7,550 |  |  | $ | 617,596 |  |  | $ | 776 |  |  | $ | 264,218 |  |  | $ | 32 |  |  | $ | 115,371 |
Management | 23 |  |  |  |  | 1 |  |  |  |  | — |  |  |
Companies controlled by management | 7,524 |  |  |  |  | 775 |  |  |  |  | 32 |  |  |
Other | 3 |  |  |  |  | — |  |  |  |  | — |  |  |
Expense: |  |  |  |  |  |  |  |  |  |  |
Fee and commission expense | $ | 2,269 |  |  | $ | 346,074 |  |  | $ | 127 |  |  | $ | 154,351 |  |  | $ | 2,988 |  |  | $ | 65,660 |
Management | 1 |  |  |  |  | — |  |  |  |  | — |  |  |
Companies controlled by management | 2,268 |  |  |  |  | 127 |  |  |  |  | 2,988 |  |  |
Interest expense | $ | 1,359 |  |  | $ | 535,895 |  |  | $ | 955 |  |  | $ | 501,111 |  |  | $ | 1,578 |  |  | $ | 208,947 |
Management | 495 |  |  |  |  | 307 |  |  |  |  | 431 |  |  |
Companies controlled by management | 825 |  |  |  |  | 642 |  |  |  |  | 1,146 |  |  |
Other | 39 |  |  |  |  | 6 |  |  |  |  | 1 |  |  |
Advertising and sponsorship expense | $ | 18,497 |  |  | $ | 124,627 |  |  | $ | — |  |  | $ | 38,327 |  |  | $ | — |  |  | $ | 14,059 |
Companies controlled by management | 18,497 |  |  |  |  | — |  |  |  |  | — |  |  |
As of March 31, 2025, the Group's brokerage and other receivables from PC ITS Central Securities Depository Limited, amounted to $29,693. PC ITS Central Securities Depository Limited is a private Kazakhstan-based company. It is a subsidiary of International Trading System Limited, a company controlled by Mr. Timur Turlov. The Company provides brokerage services to PC ITS Central Securities Depository Limited, including shares and bonds trading. As of March 31, 2025, the balance of brokerage and other receivables primarily relates to outstanding settlement amounts from these services. As of March 31, 2024 , the Group's margin lending receivables from Fresh Start Trading Ltd, amounted to $12,890. Fresh Start Trading Ltd is a Cyprus-based company that was controlled by an individual who served on Freedom EU's management until November 5, 2024. From November 5, 2024, Fresh Start Trading Ltd. is no longer controlled by a related party. The Group's transactions with Fresh Start Trading Ltd mainly involved foreign currency trading activity. Margin lending receivables from Fresh Start Trading Ltd were mainly denominated in Euros, and were fully collateralized by cash denominated in U.S. dollars. As of March 31, 2025 and March 31, 2024 the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov. As of March 31, 2025 and March 31, 2024, 55% and 87% of the Group's total related party other assets were prepayment on the potential acquisition of A-Telecom to Freedom Data Centers LLP (formerly Freedom Telecom LLP) as part of our expansion in the telecommunications market in Kazakhstan and building a digital fintech ecosystem. Freedom Data Centers LLP is considered a related party based on the scale of economic transactions with the Group. As of March 31, 2025 and March 31, 2024, 13% and 7%, respectively, of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securities LTD held by Freedom Bank KZ. Turlov Family Office Securities LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. As of March 31, 2025 and March 31, 2024, zero and 24%, respectively, of the Group's total related party customer liabilities were deposits of Fresh Start Trading Ltd held by Freedom EU related to brokerage services provided by our subsidiary Freedom EU to Fresh Start Trading Ltd. During the year ended March 31, 2025 the Group incurred advertising and sponsorship expense from Kazakhstan Chess Federation in the amount of $11,222. Kazakhstan Chess Federation is a Kazakhstan-based company in which Timur Turlov holds a management position. The Group continues to support the development of chess as a sport in Kazakhstan. During the year ended March 31, 2025, the Group has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, training camps and other events.

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